Bitcoin for beginners (guide for 2024)
What is bitcoin (BTC) ? 👀
Bitcoin is a digital currency that operates on a decentralized network called blockchain, enables peer to peer transaction without any control from single entity,government or banks
Bitcoin markets are volatile you can sell,buy and trade and your transactions are recorded on a public ledger.
How did bitcoin first start?
The first beginning of BTC trace back in 2009 by anonymous person or group using name “satoshi nakamoto” in janurary 2009, Nakamoto mined the first block of BTC called “ genesis block”.
satoshi nakamoto
BTC relies on cryptographic techniques to secure transactions and also has a limited supply (capped at 21 million coin).
Who can create BTC account ?
Unlike banks, anyone can create a BTC account and also known as BTC wallet. There are a lot of methods you can use to one of them to create a BTC account including: online wallets, software wallets or hardware wallets. By using one of those wallets you can send,receive, and store BTC easily and securely.
How much time does it take to send BTC ?
It depends on many several factors like network and transaction fee paid but usually bitcoin transactions take around 10-30 minutes to be confirmed but sometimes it could be longer if you use high network congestion.
what does it cost to send BTC ?
It depends on various factors like speed of confirmation and the network. The miners can get a small fee and prioritize the transactions in the block, the fees can be very low like few dollars but it could be increased to ensure timely processing.
How can I buy BTC ? 🙌
The easiest way you can use is to buy BTC from your credit card using binance.
